Valley Wealth Managers Inc. Raises Position in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Valley Wealth Managers Inc. increased its stake in LyondellBasell Industries by 16.6%, holding 43,226 shares worth approximately $3,043,000 after acquiring an additional 6,148 shares in Q1.
• Analysts have mixed opinions on the company's stock, with three sell ratings and an average target price of $66.00, indicating varying forecasts for future performance.
• LyondellBasell recently raised its quarterly dividend from $1.34 to $1.37 per share, reflecting a strong annualized yield of 8.56%, though its dividend payout ratio is notably high at 169.14%.

Valley Wealth Managers Inc. boosted its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,226 shares of the specialty chemicals company's stock after acquiring an additional 6,148 shares during the period. Valley Wealth Managers Inc.'s holdings in LyondellBasell Industries were worth $3,043,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG boosted its stake in shares of LyondellBasell Industries by 26.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock valued at $14,013,000 after buying an additional 39,957 shares during the period. Sei Investments Co. lifted its position in shares of LyondellBasell Industries by 9.8% during the fourth quarter. Sei Investments Co. now owns 121,075 shares of the specialty chemicals company's stock worth $8,993,000 after purchasing an additional 10,833 shares in the last quarter. LPL Financial LLC raised its position in shares of LyondellBasell Industries by 3.9% during the 4th quarter. LPL Financial LLC now owns 576,116 shares of the specialty chemicals company's stock valued at $42,788,000 after acquiring an additional 21,422 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of LyondellBasell Industries by 12.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 421,179 shares of the specialty chemicals company's stock valued at $30,649,000 after buying an additional 47,911 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in shares of LyondellBasell Industries by 24.0% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 28,699 shares of the specialty chemicals company's stock valued at $2,131,000 after buying an additional 5,560 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Down 3.2%

Shares of LYB traded down $1.97 on Wednesday, reaching $60.51. The company's stock had a trading volume of 1,546,706 shares, compared to its average volume of 3,667,811. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a twelve month low of $51.11 and a twelve month high of $100.46. The stock has a market capitalization of $19.45 billion, a PE ratio of 18.71, a PEG ratio of 3.68 and a beta of 0.82. The firm has a fifty day moving average of $60.10 and a 200-day moving average of $65.67.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 9.06%. This is a positive change from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries's payout ratio is currently 169.14%.

Analyst Upgrades and Downgrades

LYB has been the subject of a number of recent research reports. Argus downgraded shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Barclays dropped their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. restated a "neutral" rating and set a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Finally, Mizuho boosted their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.00.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.